DRW Securities LLC Increases Stock Holdings in Devon Energy Co. (NYSE:DVN)

DRW Securities LLC increased its holdings in Devon Energy Co. (NYSE:DVN) by 152.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,561 shares of the energy company’s stock after acquiring an additional 30,561 shares during the quarter. DRW Securities LLC’s holdings in Devon Energy were worth $2,290,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Nordea Investment Management AB increased its holdings in shares of Devon Energy by 2.7% in the 3rd quarter. Nordea Investment Management AB now owns 373,757 shares of the energy company’s stock valued at $17,974,000 after acquiring an additional 9,823 shares during the period. Pearl River Capital LLC grew its position in Devon Energy by 367.7% in the 3rd quarter. Pearl River Capital LLC now owns 75,042 shares of the energy company’s stock valued at $3,580,000 after buying an additional 58,997 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in Devon Energy by 15.0% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 5,355,552 shares of the energy company’s stock valued at $255,460,000 after buying an additional 697,849 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in Devon Energy by 39.0% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 197,726 shares of the energy company’s stock valued at $9,008,000 after buying an additional 55,459 shares during the last quarter. Finally, L. Roy Papp & Associates LLP purchased a new position in Devon Energy in the 4th quarter valued at $287,000. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Trading Down 1.0 %

Shares of NYSE DVN traded down $0.47 on Friday, reaching $45.29. 491,215 shares of the company traded hands, compared to its average volume of 7,365,471. Devon Energy Co. has a fifty-two week low of $40.47 and a fifty-two week high of $55.09. The company has a 50 day moving average of $50.31 and a 200 day moving average of $46.74. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $28.62 billion, a PE ratio of 8.73 and a beta of 2.08.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Wednesday, May 1st. The energy company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.06. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the prior year, the company posted $1.46 EPS. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. On average, equities research analysts forecast that Devon Energy Co. will post 5.18 earnings per share for the current fiscal year.

Devon Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, June 14th. Devon Energy’s dividend payout ratio is currently 16.79%.

Insider Activity

In other news, EVP Tana K. Cashion sold 20,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $51.04, for a total transaction of $1,020,800.00. Following the completion of the transaction, the executive vice president now owns 104,182 shares of the company’s stock, valued at approximately $5,317,449.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on DVN shares. Susquehanna lifted their price objective on shares of Devon Energy from $52.00 to $65.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Morgan Stanley boosted their target price on shares of Devon Energy from $49.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Stifel Nicolaus boosted their target price on shares of Devon Energy from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Barclays began coverage on shares of Devon Energy in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $59.00 target price on the stock. Finally, StockNews.com lowered shares of Devon Energy from a “buy” rating to a “hold” rating in a research report on Monday. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.88.

Devon Energy Company Profile

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.